Kazakh central bank sets new tenge guidance

* Kazakh cbank bought over $2 bln to slow tenge appreciation

* Says will intervene again if moves beyond 147.5-148.0

ALMATY, Nov 18 - Kazakhstan's central bank has bought more than $2 billion since last week to slow the appreciation of the tenge <KZT=> and will intervene more if the rate goes beyond 147.5 against the dollar, it said on Wednesday.

The tenge started climbing against the dollar a week ago after central bank chairman Grigory Marchenko said such a move was justified by fundamentals including oil prices. It has risen to 149.14 on November 18 from 150.69 on November 11.

"We... had to buy over $2 billion to stop the tenge from appreciating too fast," Marchenko told a web conference, adding that about a quarter of that sum had come from foreign players.

He said the central bank would allow further appreciation but would intervene more heavily if the tenge moves beyond 147.5-148.0 per dollar to protect the competitiveness of the Kazakh economy.

"The tenge may appreciate by 1-2 percent without hurting economic competitiveness," Marchenko said.

Crisis-hit Kazakhstan devalued the tenge in February after a slump in oil prices and devaluations in other ex-Soviet countries. It then established a trading band of 145-155 tenge per dollar saying it would be maintained throughout 2009.

This month, Marchenko said the trading band could be widened in 2010 to allow more upside.